Robust earnings kept Wall Street in positive terrain while gold and silver reached for historic heights last week. As the trading session ended Friday, earnings from Caterpillar pushed the Dow industrials higher, making April the strongest month for the Dow since December. The Nasdaq was pressured by Research in Motion, maker of Blackberry, on a cut in first-quarter estimates, and Microsoft weighed on the Dow following a downturn in sales of its Windows operating system. The dollar remained low against world currencies, pushing gold and silver toward lifetime highs. Markets remained strong, despite softer gross domestic product numbers for the first quarter and a rise in unemployment claims for the week. There is a big bias toward the market going up, and we've seen this through good n...
Four experienced advisers shared their insights about retirement planning in general and use of annuities in particular. Richard A. Dulisse, assistant professor of financial planning at The American College, said that only about 5% of annuities sold are immediate annuities, and of them, only about 5% are immediate variable annuities. John Huggard, senior member of the Huggard Obiol & Blake law firm, says that guaranteed minimum withdrawal benefit provides inflation protection and downside market protection and the contract owner still owns the assets. For Frank Congemi, registered financial gerontologist, the essence of retirement planning is earning more for clients than they withdraw. Congemi is more likely to use annuities when people have too much money to leave open to taxation...
...We chose this group for their experience, objectivity and independence... annuities, said Ted Bovard, principal with Fort Pitt Capital Group, Pittsburgh. He said that some ...
NEW YORK - Federal regulators huddled with shaken stock exchange chiefs late Thursday to investigate the events that led to a terrifying Wall Street panic. A simple typographical error was one possible trigger to an avalanche of selling that sliced almost 1,000 points off the Dow Industrials, almost one-tenth of their value, in less than half an hour. It was the biggest drop ever during a trading day.
... Charlie Smith, chief investment officer at Fort Pitt Capital Group. "We've known that automated tr...
NEW YORK - Stocks rose modestly Wednesday after companies reported higher earnings but gave mixed forecasts about how the fragile economy and rising costs will affect their growth. Target Corp., Staples Inc. and Dell Inc. reported earnings for last quarter that were above analysts' forecasts. Companies in the Standard & Poor's 500 are on track to report higher profits for a ninth straight quarter. But economic growth is weak around the world, and some economists worry that a second recession may be coming. That could hurt companies' earnings in the future - and kept investors from buying with more enthusiasm Wednesday.
... Charlie Smith, chief investment officer of Fort Pitt Capital Group, which has just over $1 billion...
Stocks finished about where they started Friday as investors balanced positive signs for the U.S. economy with a looming deadline for a deficit-cutting committee in Congress. Steep declines earlier in the week left the market with its worst weekly loss since September. The Dow Jones industrial average gained 25.43 points, or 0.2 percent, to close at 11796.16. The Dow traded in a relatively narrow range, rising as many as 84 points and falling as many as 15. Hewlett-Packard Co. jumped 2.6 percent, the most of the 30 stocks in the index, on an analyst upgrade.
... Caughey Forrest, equity research analyst at Fort Pitt Capital Group. - The Associated Press. (Copyr...
NEW YORK - The problems that have weighed on investors all summer - European debt and fear of a new recession in the United States - hammered the stock market Friday. The Dow Jones industrial average fell more than 300 points. The plunge erased the week's gains for stocks and sent the Dow below 11,000. It had not closed below that level since Aug. 22, after several weeks of extraordinary volatility.
... Caughey Forrest, equity research analyst at Fort Pitt Capital Group. The Standard & Poor's 500 clos...
Watching stock markets plummet on Thursday was a shock for many investors, one that brought back painful memories of October 2008 and the beginning of the financial crisis that has hobbled the American economy. Local financial advisers urged restraint and calm, saying the economic situation -- while certainly worrisome -- is nothing like 2008.
... and chief investment officer of Stewart Capital Advisors in Indiana, Pa. Panicked investors sent U... Charlie Smith, chief investment officer at Fort Pitt Capital Group in Green Tree, referring to the...
NEW YORK - So much for Irene. Stocks rose broadly Monday, led by insurance companies, after it became clear that the tropical storm caused far less damage than many had feared. The Dow Jones industrial average jumped just more than 254 points.
... 8.5 percent, Hartford Financial Services Group Inc. rose 13 percent and Travelers Cos. Inc. rose ... Caughey Forrest, equity research analyst at Fort Pitt Capital Group. "The cleanup isn't going to co...
NEW YORK -- The stock market began June with a big rally, thanks to another wave of encouraging economic data. But some investors are nervous that the month, traditionally a weak one for stocks, may not end as well. The market's gains on Monday came despite signs that the economy might have a tough slog ahead of it, including rising interest rates and the nation's fourth- largest bankruptcy ever.
... the takeovers of American International Group Inc. and the mortgage giants Fannie Mae and Freddi... said Kim Caughey, equity research analyst at Fort Pitt Capital Group. She said she was skeptical bec...
Stocks slip on European protests; indifferent trading
... Kim Caughey, an equity research analyst at Fort Pitt Capital Group in Pittsburgh. "Everyone is sit...
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